Construction
Building your own home? We fund each stage as you build.
Money is released in stages — foundation, framing, lock-up, completion — to match your builder's invoices. Borrow up to 80% of the finished home's value. Works for owner-builders too.
3–5 building stagesUp to 80% of finished valueOwner-builders welcomeBuy lot + build9–18 month build windowAuto-converts to regular mortgage
5-star rated| FSRA #13737| 5-min pre-qualification
Building your own home?
We fund each stage as you build.
Money is released in stages — lot purchase, framing, lock-up, and completion — to match your builder's invoices.
Build · live progressLot
LotFoundationFramingLock-upDrywallCompletion
4-6
Draw stages (typical)
9-18mo
Construction window
65-80%
LTC at draw
Auto
Roll to take-out
Maya · AI · 24/7
How do construction draws work?
5-star rated| FSRA #13737| 50+ langs
Construction financing has its own playbook: lender selection, builder qualification (or owner-builder process), draw schedule, holdback management, and conversion to a regular mortgage at occupancy. We coordinate everything.
What you get
Why Canadians choose Mortgage Squad Advisors.
Progress advances at each stage (3-5 typical)
Convert to regular mortgage at completion
Owner-builder programs available
Custom build, lot purchase + build, or major reno
We coordinate with your builder & lawyer
Up to 80% LTV on completed appraised value
Insured options for primary residence builds (5-10% down)
Rate hold during construction (most lenders)
How it works
Three steps. No jargon. No pressure.
1
Pre-Approval + Builder Vetting
We confirm you qualify on completed value. Lender vets your builder (or your owner-builder plan).
2
Draw Schedule
Funds release at agreed stages. Holdback (typically 10%) released at completion + 45 days.
3
Convert at Occupancy
Final advance funds. Your construction mortgage converts to a regular (5-yr fixed or variable) at occupancy.
How many draws are typical?
3-5: foundation, framing/lockup, drywall/finishing, completion (+ holdback release). Some lenders offer 2-stage draws on smaller renos.
Do I pay interest during construction?
Yes, on the drawn balance only. Most clients carry the interest-only payment monthly.
Do I need a contractor?
Most lenders prefer a registered contractor. Owner-builder programs exist but require more documentation and inspection.
Can I include the lot purchase?
Yes — combined lot + build mortgages are common. Lot is funded first; build draws follow.
What's a holdback?
A construction lien holdback (typically 10%) is held back per Construction Lien Act for 45 days after substantial completion. Released after the holdback period if no liens registered.
Can I do a major reno on this product?
Yes — major renos that change the building footprint or systems often qualify. Cosmetic renos use a refinance + line of credit instead.
What's the rate during construction?
Slight premium over 5-yr posted (typically 5-yr fixed +25-50bps) during the draw period. Converts to standard rate at occupancy.
What if my build goes over budget?
Common issue. We can sometimes increase the construction mortgage if completed value supports it. Otherwise, a HELOC or short-term private supplement works.